Future value of annuity= payment per period * [(1+i)^n-1]/i
i = interest rate per period
n = number of periods
=>
60315 * [(1+0.06)^n - 1]/0.06 = 340000
=>
1.06^n = 1.33822432231
=>
n = ln(1.33822432231)/ln(1.06)
= 5 years
John is investing $60,315 at the end of each year in a fund that earns 6%...
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